Economic Fury Targets Iran Shadow Banking Facilitators

WASHINGTON—Today, as part of Economic Fury, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 35 entities and individuals that oversee Iran’s shadow banking architecture, facilitating the movement of the equivalent of tens of billions of dollars tied to sanctions evasion and Iran’s sponsorship of terrorism. These networks allow Iran’s armed forces—including the Islamic Revolutionary Guard Corps (IRGC)—to access the international financial system to receive payment for illicit oil sales, purchase sensitive components for missiles and other weapons systems, and transfer money to Iran’s terrorist proxies. “Iran’s shadow banking system serves as a critical financial lifeline for its armed forces, enabling activities that disrupt global trade and fuel violence across the Middle East,” said Secretary of the Treasury Scott Bessent. “Illicit funds funneled through this network support the regime’s ongoing terrorist operations, posing a direct threat to U.S.